Reliance Industries: CBI may file a case

by khalid on 21/09/2011 · 2 comments

As per reports CBI is considering the option of filing a case or multiple cases against Reliance Industries on the issue of its operations for its gas block in Krishna Godavari basin.The reports suggested that CBI is likely to name the officials involved in the country’s upstream regulatory and petroleum ministry for the above case. Till now no official declarations or announcements have come out from the CBI.

In previous reports Reliance Industries had mentioned that there was no legitimate evidence that the costs involved in development of the country’s key natural resource gas field of the Krishna Godavari basin had been over stated. There are no official comments till now from any concerned person from the group though.

Reports have however indicated that preliminary inquiry that has been conducted on RIL as well as others is in its final stages with a case to be registered very soon. CAG has also criticised RIL as well as the government over the development of the key natural resources in the basin. They also mentioned that it was an arrangement for a profit sharing basis over the costs and development.

This offshore Krishna Godavari basin had been expected for contributing about a quarter of the gas supply required within India. However the Lower than the expected output has made the energy required country far more dependent on other forms of energy such as LNF or fuel power or fertilizer plants.

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